[lev99]

> If you think of people as a graph of nodes, these tools enable novel patterns of trust and collaboration between individuals that aren't possible today. What this means is that every institution will ultimately have to reimagine itself so as to be cost competitive in the new paradigm, HT Carlota Perez.

That is a logical fallacy. Every new dna mutation is 'novel' and some mutations are even solutions to real problems, but not every novel solution is the most competitive. Just because blockchain gives you new tools that solve problems doesn't mean it is the best way to solve that problem. (EDIT: To defend your statement you have the burden of proof to show that your paradigm is significantly more competitive than current paradigms. I suspect time will prove me correct.)

> when you can just run a simple Python script to analyze the contents of all that debt and get updates on payments in real time, suddenly those types of systematic market failures can no longer happen

There are many, many factors that went into The Great Rescission. Repackaging subprime mortgages was bad for investors. Maybe python could have helped that by giving investors better insight into what they were buying. The housing market declined, fundamentally, because many families were unable to pay their mortgages. Python wouldn't have helped people be able to pay their mortgage.